**Charity registration number 1171808**
## **THE ROWLAND BROTHERS FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **THE ROWLAND BROTHERS FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr S N A Rowland Mr A B A Rowland MBE Mr M Spooner Mr J Walking Mr N Redman Mr C Roe (Appointed 1 April 2022) **Charity number** 1171808 **Principal address** 299 - 305 Whitehorse Road West Croydon Surrey CR0 2HR **Independent examiner** Miriam Hickson FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM1 2SW
## **THE ROWLAND BROTHERS FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 10|
## **THE ROWLAND BROTHERS FOUNDATION**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
The trustees present their annual report and financial statements for the year ended 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Foundation's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
The Foundation's objects are to relieve the mental and physical sickness and the financial hardship of persons resident in the area who are suffering from bereavement by the provision of counselling, financial and other support. Alongside this, the foundation has recently partnered with a number of secondary schools in Croydon and is offering bereavement counselling support to students there. This was initially in response to several well-publicised events in the area affecting pupils of the schools but has become more proactive in helping children deal with bereavement before it occurs.
The Foundation also seeks to assist in the preservation of war memorials and other public monuments in the area commemorating figures of historical importance. This work has reduced over the past 24 months due to the Covid19 pandemic but work is starting to pick up after the financial year.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake and ensuring these are for the public benefit.
## **Achievements and performance**
The charity’s income decreased in the year as the Trustees took the decision to utilise brought forward reserves rather than request additional funding from partner Companies. Some funding was received but at a much lower level. These were more towards the end of the year once the reserves had depleted.
The bereavement counselling service has continued to thrive with face-to-face meetings returning, but also with a continuation of online one-to-one and group sessions. Memorial restorations decreased during the pandemic and the start of the year was slow but these started to pick up towards the end of the financial year and beyond.
## **Financial review**
At 31 March 2022, the Foundation’s reserves were in surplus by £16,044 (2021: £60,645) following donations of £29,232 (2021: £140,423) and charitable expenditure of £83,833 (2021: £77,847). There was also restricted Lottery funding of £10,000 (2021: £nil), of which £1,425 (2021: £nil) was spent on the ongoing school bereavement counselling project.
It is the policy of the Foundation that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between one and three month’s expenditure. The trustees consider that reserves at this level, coupled with support of its partners, will ensure that they will be able to continue the Foundation’s current activities without interruption. This level of reserves has been maintained throughout the year.
## **Structure, governance and management**
The Foundation is a charitable incorporated organisation. The Foundation is governed by the rules and regulations set down in its Constitution dated 28 February 2017.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr S N A Rowland
Mr A B A Rowland MBE Mr M Spooner Mr J Walking Mr N Redman Mr C Roe (Appointed 1 April 2022)
- 1 -
THE ROWLAND BROTHERS FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Trustees are recruf(ed based on their skills, knowledge and experionr* needed for the effective administration of the
Foundation. TnJstee5 are appointed tor a temi of three years by a resolution passed at 8 properfy Convened
meeting.
The tnjstees havg responsibility for settsng and monitoring the ov8rall strategic direction of the Foundation,
approving deusions and appointing key Mem[5 of staff.
The
rep
wa
approved by the 8oard of Tnjslees.
Mr S NA Rowland
Dale-. ...
THE ROWLAND BROTHERS FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE ROWLAND BROTHERS FOUNDATION
I report to the trustee5 on rny examination of the financial sialemenls of The ROand Brothers Foundation Ithg
Foundaiionl for the y8ar ended 31 Marth 2022.
Rèspoftslbllities and basls of report
As the trustees of the Foundation you are responsible for the preparation of the financial statements in accordan¢g
with the rlI1r9[ents of the Charities Act 2011 Ithe 2011 Acti.
I report in spect of my examination of the Foundation's financial statements carried out undèr section 145 of the
2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity
Commi55ion under section 14515llbl of the 2011 Act.
Independent oxamin8r'5 Statement
I have compleled my examination. I confirm that no rnallers have come to my attention in connection with the
examination giving me caLJse to believe that in any material respect..
accounting records wére not kept in respe¢l of the Foundation as reqUId by 8e¢tion 130 of the 2011 Aci., or
the financial statements do not accord with those records., or
the flnancial statements do not comply with the applicablè requirernents conceming the form and content of
accounts sel out in the Charitie5 IAccounts and Report51 Regulations 2008 other than any requirement that the
accounts give a tnje and fair view which is not a matter considered as part ol an ind8pgndenl examination.
I have no concerns and have come acr05s no other rnatlers Sn eonneclion with the examination to whleh altentlon
shoLJld bè drawn in this report in order lo enable a proper understanding of the financial statements to be reached.
Mir4am Hickson FCA
Jacob Cavenagh & Skeel
5 Robin Hood Lane
Sutton
Surrey
SM1 2SW
## **THE ROWLAND BROTHERS FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income from:**
Donations
**29,232**
**10,000**
**Expenditure on:**
Charitable activities
**2**
**82,408**
**1,425**
**Net (expenditure)/income for the year/**
**Net movement in funds**
**(53,176)**
**8,575**
Fund balances at 1 April 2021
**60,645**
**-**
**Fund balances at 31 March 2022**
**7,469**
**8,575**|**Total Unrestricted**
**funds**
**2022**
**2021**
**£**
**£**
**39,232**
**140,423**
**83,833**
**77,847**
**(44,601)**
**62,576**
**60,645**
**(1,931)**
**16,044**
**60,645**|
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 4 -
THE ROVVLAND BROTHERS FOUNDATION
BALANCE SHEET
AS AT 31 MARCH 2022
2022
2021
Notes
Fixgd assets
Tangible assets
870
1.218
urront assets
D8btors
Cash at bank and in hand
114
63.653
115
19.427
19.542
63.787
Credltors: amounts falllng duo withln
one year
{4,340}
14.3681
15,174
59,427
Net current assets
Totsl assots Igys current liabilitie8
16,044
60,645
Income funds
Restricted fvnds
Unrestricted funds- general
8.575
7h69
60,64S
16,044
60,645
nci
ents were approv by the Trustees on
Mr
A Rowland
Trustee
## **THE ROWLAND BROTHERS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **Charity information**
The Rowland Brothers Foundation is a charitable incorporated organisation limited by guarantee and incorporated in England and Wales. The address of its registered office is 299 - 305 Whitehorse Road, West Croydon, Surrey. The Foundation is a public benefit entity.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Foundation's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Foundation is a Public Benefit Entity as defined by FRS 102.
The Foundation has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Foundation. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the Foundation is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Foundation has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Foundation has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 6 -
## **THE ROWLAND BROTHERS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is recognised on an accruals basis when a liability is incurred. Expenditure is inclusive of any VAT which cannot be recovered.
Donations payable are accounted for when the charity is committed to paying them.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the Foundation reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The Foundation has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Foundation's balance sheet when the Foundation becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 7 -
## **THE ROWLAND BROTHERS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Foundation’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Foundation is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.11 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Charitable activities**
|Staff costs
Charitable donations
Other costs
_Governance costs_
Independent examination fee
Legal and professional fees|**2022**
**£**
**72,597**
**155**
**6,538**
**79,290**
**1,284**
**3,259**
**83,833**|**2021**
**£**
67,586
3,547
3,025|
|---|---|---|
|||74,158
1,200
2,489|
|||77,847|
- 8 -
**THE ROWLAND BROTHERS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **3 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Foundation during the year.
## **4 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
|Foundation staff|**3**|3|
|**Employment costs**|**2022**|**2021**|
||**£**|**£**|
|Wages and salaries|**66,180**|61,745|
|Social security costs|**5,363**|4,888|
|Other pension costs|**1,054**|953|
||**72,597**|67,586|
There were no employees whose annual remuneration was £60,000 or more.
## **5 Tangible fixed assets**
|**Tangible fixed assets**||
|---|---|
||**Fixtures and fittings**|
||**£**|
|**Cost**||
|At 1 April 2021|**1,392**|
|At 31 March 2022|**1,392**|
|**Depreciation and impairment**||
|At 1 April 2021|**174**|
|Depreciation charged in the year|**348**|
|At 31 March 2022|**522**|
|**Carrying amount**||
|At 31 March 2022|**870**|
|At 31 March 2021|1,218|
- 9 -
## **THE ROWLAND BROTHERS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**6**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**7**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Accruals and deferred income|**2022**
**£**
**115**
**2022**
**£**
**788**
**605**
**2,975**
**4,368**|**2021**
**£**
114|
|---|---|---|
|||**2021**
**£**
1,613
403
2,324|
|||4,340|
## **8 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
||**Movement**|||**Movement in funds**|**Movement in funds**||
|---|---|---|---|---|---|---|
||**in funds**||||||
||**Income**|**Balance at**||**Income**|**Expenditure**|**Balance at**|
|||**1 April 2021**||||**31 March**|
||**£**|**£**||**£**|**£**|**2022**
**£**|
|Schools project|**-**||**-**|**10,000**|**(1,425)**|**8,575**|
|The schools project fund relates to a bereavement support project|||working with under-18s in schools across||||
|Croydon, both in one-to-one support settings and in||group settings, in the form of weekly bereavement|||||
|support 'drop-ins'.|||||||
|**Analysis of net assets between funds**|||||||
||**Unrestricted**|||**Restricted**|**Total**|Unrestricted|
|||**funds**||**funds**||funds|
|||**2022**||**2022**|**2022**|2021|
|||**£**||**£**|**£**|£|
|Fund balances at 31 March 2022 are represented|||||||
|by:|||||||
|Tangible assets||**870**||**-**|**870**|1,218|
|Current assets/(liabilities)||**6,599**||**8,575**|**15,174**|59,427|
|||**7,469**||**8,575**|**16,044**|60,645|
## **9 Analysis of net assets between funds**
## **10 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
- 10 -
## **THE ROWLAND BROTHERS FOUNDATION**
## **DETAILED INCOME AND EXPENDITURE** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**Unrestricted**
**Restricted**
**2022**
**funds**
**£**
**£**
**Income from:**
Grants
**-**
**10,000**
Individuals
**792**
**-**
Related companies
Rowland Brothers
**8,440**
**-**
Rowland Brothers International
**-**
**-**
A&J Morriss
**8,000**
**-**
Golden Leaves
**12,000**
**-**
**28,440**
**-**
**Total income**
**29,232**
**10,000**
**Expenditure on:**
Donations
DM Gould Wholesale
**155**
**-**
Good Grief Trust
**-**
**-**
An Angel Gained
**-**
**-**
Hannah Twist
**-**
**-**
Woodside Bereavement
Counselling Service
**-**
**-**
Brenda Kirby Cancer Centre
**-**
**-**
Nicole Favre Memorial
**-**
**-**
Mark Nicholson
**-**
**-**
The Lily Foundation
**-**
**-**
Croydon Youth Zone
**-**
**-**
**155**
**-**
Staff costs
**72,597**
**-**
Seminar costs
**3,550**
**1,425**
Insurance
**93**
**-**
Printing & stationery
**-**
**-**
Travel & subsistence
**33**
**-**
Advertising
**37**
**-**
Subscriptions
**512**
**-**
Bank charges
**231**
**-**
Depreciation
**348**
**-**
Sundry expenses
**309**
**-**
Independent examination fee
**1,284**
**-**
Legal and professional fees
**3,259**
**-**
**82,253**
**1,425**
Total expenditure
**82,408**
**(1,425)**
Net movement in funds
**(53,176)**
**8,575**|**Total**
**Unrestricted**
**2022**
**funds**
**£**
**£**
**10,000**
-
**792**
1,420
**8,440**
112,003
**-**
3,000
**8,000**
12,000
**12,000**
12,000
**28,440**
139,003
**39,232**
140,423
**155**
-
**-**
150
**-**
500
**-**
100
**-**
600
**-**
600
**-**
487
**-**
260
**-**
600
**-**
250
**155**
3,547
**72,597**
67,586
**4,975**
1,381
**93**
100
**-**
80
**33**
48
**37**
214
**512**
474
**231**
176
**348**
174
**309**
378
**1,284**
1,200
**3,259**
2,489
**83,678**
74,300
**83,833**
77,847
**(44,601)**
62,576|**Total**
**2021**
**£**
-
1,420
112,003
3,000
12,000
12,000|
|---|---|---|
|||139,003|
|||140,423|
|||-
150
500
100
600
600
487
260
600
250|
|||3,547
67,586
1,381
100
80
48
214
474
176
174
378
1,200
2,489|
|||74,300|
|||77,847|
|||62,576|
- 11 -